UL Solutions (NYSE:ULS) CEO Jennifer Scanlon Sells 12,500 Shares of Stock

UL Solutions Inc. (NYSE:ULS) CEO Jennifer Scanlon sold 12,500 shares of UL Solutions stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $73.66, for a total transaction of $920,750.00. Following the completion of the transaction, the chief executive officer directly owned 139,224 shares in the company, valued at $10,255,239.84. This trade represents a 8.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

UL Solutions Trading Up 0.6%

Shares of UL Solutions stock opened at $74.56 on Friday. UL Solutions Inc. has a 1 year low of $61.64 and a 1 year high of $107.54. The company has a current ratio of 1.42, a quick ratio of 1.42 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $15.05 billion, a PE ratio of 30.19, a price-to-earnings-growth ratio of 3.08 and a beta of 0.63. The firm’s 50 day moving average is $83.97 and its 200 day moving average is $87.92.

UL Solutions (NYSE:ULS) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.03. The company had revenue of $816.00 million during the quarter, compared to the consensus estimate of $813.62 million. UL Solutions had a net margin of 16.02% and a return on equity of 28.81%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.52 earnings per share. Equities research analysts forecast that UL Solutions Inc. will post 2.08 earnings per share for the current fiscal year.

UL Solutions Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Monday, August 31st will be given a dividend of $0.145 per share. The ex-dividend date is Monday, August 31st. This represents a $0.58 annualized dividend and a dividend yield of 0.8%. UL Solutions’s dividend payout ratio is presently 23.48%.

Institutional Investors Weigh In On UL Solutions

Several hedge funds and other institutional investors have recently modified their holdings of ULS. Parallel Advisors LLC raised its position in shares of UL Solutions by 349.3% during the first quarter. Parallel Advisors LLC now owns 301 shares of the company’s stock worth $26,000 after purchasing an additional 234 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in UL Solutions by 3,070.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 634 shares of the company’s stock valued at $46,000 after purchasing an additional 614 shares during the period. Rhumbline Advisers bought a new stake in UL Solutions during the 1st quarter valued at $49,000. CIBC Private Wealth Group LLC increased its stake in UL Solutions by 112.7% during the 4th quarter. CIBC Private Wealth Group LLC now owns 904 shares of the company’s stock valued at $71,000 after purchasing an additional 479 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in UL Solutions by 42.4% during the second quarter. GAMMA Investing LLC now owns 823 shares of the company’s stock worth $84,000 after buying an additional 245 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ULS. Wall Street Zen cut UL Solutions from a “buy” rating to a “hold” rating in a report on Saturday, July 25th. Zacks Research downgraded shares of UL Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. UBS Group cut their target price on shares of UL Solutions from $110.00 to $96.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Wells Fargo & Company reduced their price target on shares of UL Solutions from $120.00 to $104.00 and set an “overweight” rating for the company in a report on Wednesday, August 5th. Finally, Citigroup decreased their price target on shares of UL Solutions from $106.40 to $82.80 and set a “neutral” rating for the company in a research note on Wednesday, August 5th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $96.78.

UL Solutions Company Profile

UL Solutions (NYSE: ULS) is a global safety science company that provides testing, inspection, certification, advisory and digital solutions designed to help organizations manage risk, ensure regulatory compliance and drive innovation. With roots dating back to 1894 when it was founded as Underwriters’ Electrical Bureau, the company rebranded as UL Solutions following its initial public offering in 2022. Headquartered in Northbrook, Illinois, UL Solutions operates independently to serve a broad range of industries with an emphasis on product safety, performance and sustainability.

The company’s core services include standards development, product testing and certification for sectors such as building products, consumer electronics, automotive, life sciences, energy and industrial equipment.